Pennsylvania Trust Co Decreases Position in Kraft Heinz Co (KHC)

Pennsylvania Trust Co reduced its stake in Kraft Heinz Co (NASDAQ:KHC) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,808 shares of the company’s stock after selling 4,699 shares during the period. Pennsylvania Trust Co’s holdings in Kraft Heinz were worth $2,359,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KHC. Magellan Asset Management Ltd raised its stake in Kraft Heinz by 39.6% in the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after buying an additional 9,529,235 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of Kraft Heinz by 39,913.8% during the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after purchasing an additional 3,398,664 shares in the last quarter. FMR LLC increased its stake in shares of Kraft Heinz by 34.4% during the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after purchasing an additional 2,111,198 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Kraft Heinz by 36.7% during the second quarter. First Trust Advisors LP now owns 2,179,768 shares of the company’s stock valued at $136,933,000 after purchasing an additional 585,694 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Kraft Heinz by 291.1% during the second quarter. Gamco Investors INC. ET AL now owns 590,896 shares of the company’s stock valued at $37,120,000 after purchasing an additional 439,798 shares in the last quarter. 62.82% of the stock is owned by institutional investors.

In related news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is owned by company insiders.

Shares of KHC opened at $55.74 on Thursday. The company has a market cap of $67.19 billion, a P/E ratio of 15.70, a PEG ratio of 1.88 and a beta of 0.51. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a twelve month low of $54.11 and a twelve month high of $82.48.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.57 billion. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, sell-side analysts anticipate that Kraft Heinz Co will post 3.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 17th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Thursday, August 16th. Kraft Heinz’s dividend payout ratio (DPR) is currently 70.42%.

A number of equities analysts have weighed in on KHC shares. BidaskClub raised shares of Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Kraft Heinz in a research note on Tuesday, August 7th. Bank of America set a $85.00 target price on shares of Kraft Heinz and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Finally, Credit Suisse Group raised shares of Kraft Heinz to a “hold” rating and set a $52.00 target price for the company in a research note on Thursday, October 4th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.02.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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